Date: 04/08/2010

Final
BILL SUMMARY for HB10-1351

HOUSE COMMITTEE ON JUDICIARY

Votes: View--> Action Taken:
Adopt prepared amendment L.005 (Attachment B). Th
Adopt prepared amendment L.006 (Attachment C). Th
Refer House Bill 10-1351, as amended, to the Commi		Pass Without Objection
PASS
PASS



01:36 PM -- House Bill 10-1351

Representative Ferrandino returned to the committee to discuss House Bill 10-1351, which was originally discussed on Monday, March 8, 2010, and was referred back to the committee by the Committee of the Whole. He distributed an information sheet about the amendments he proposed (Attachment A). He also distributed prepared amendments L.005 and L.006 (Attachments B and C).

100408AttachA.pdf100408AttachB.pdf100408AttachC.pdf

BILL:HB10-1351
TIME: 01:39:15 PM
MOVED:Court
MOTION:Adopt prepared amendment L.005 (Attachment B). The motion passed without objection.
SECONDED:Miklosi
VOTE
Court
Gardner B.
Kagan
King S.
Miklosi
Nikkel
Pace
Ryden
Waller
McCann
Excused
Levy
Not Final YES: 0 NO: 0 EXC: 1 ABS: 0 FINAL ACTION: Pass Without Objection


BILL:HB10-1351
TIME: 02:07:28 PM
MOVED:Court
MOTION:Adopt prepared amendment L.006 (Attachment C). The amendment changes the maximum interest rate that may be charged on payday loans from 36 percent to 45 percent. It also allows payday lenders to charge an origination fee of no more than $10 for every $100 loaned. Members of the committee asked questions about the amendment and held a lengthy discussion about the changes. Representative Gardner requested that the bill be laid over to give the payday lending industry time to consider the amendment. Members of the committee discussed Representative Gardner's request. Representative Levy denied the request. The motion passed on a vote of 7-4.
SECONDED:Miklosi
VOTE
Court
Yes
Gardner B.
No
Kagan
Yes
King S.
No
Miklosi
Yes
Nikkel
No
Pace
Yes
Ryden
Yes
Waller
No
McCann
Yes
Levy
Yes
Not Final YES: 7 NO: 4 EXC: 0 ABS: 0 FINAL ACTION: PASS


BILL:HB10-1351
TIME: 02:08:50 PM
MOVED:Kagan
MOTION:Refer House Bill 10-1351, as amended, to the Committee of the Whole with a favorable recommendation. The motion passed on a vote of 7-4.
SECONDED:Miklosi
VOTE
Court
Yes
Gardner B.
No
Kagan
Yes
King S.
No
Miklosi
Yes
Nikkel
No
Pace
Yes
Ryden
Yes
Waller
No
McCann
Yes
Levy
Yes
Final YES: 7 NO: 4 EXC: 0 ABS: 0 FINAL ACTION: PASS




02:09 PM

Representative Levy adjourned the committee.